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The Director-General of the Infrastructure Concession Regulatory Commission, Dr Jobson Ewalefoh, has on Monday announced that the construction of the $3.5 billion Bakassi Deep Seaport will commence soon.
The project is streamlined under the administration of Governor Bassey Otu of Cross River State, and the project.
The government who expressed enthusiasm following the project added that it would streamlined the ICRC Public Private Partnership processes, the financier, and the support of all stakeholders.
The $3.5 billion project, with funding secured from the African Import-Export Bank, will be executed as a public-private partnership.
"You have shown that you have what it takes to do it, just as President Tinubu has given confidence to investors to bring their funds to Nigeria.
"This is not a project that you started, the baton was only handed over to you, but like the man on the last lap, you are running the fastest and you will cut the tape. With the team you have assembled and the activities that are going on, you will arrive at the destination of the Bakassi Deep Seaport. I am convinced that in your tenure, with your team, Bakassi Deep Seaport will be a reality to the people of Cross River state and Nigerians."
The Director-General stated that the port was crucial to diversify the traffic from the Western Port and serve as a relief to the Eastern regions of Nigeria.
He further mentioned that the Bakassi Deep Seaport is an Agro-Value-Chain port that will explore the potential in the nation's agricultural sector in the South-South part of Nigeria, the North as well as all of Africa.
Ewalefoh expressed gratitude to Afreximbank for believing in the state and Nigeria, and reassured investors that Nigeria was an attractive destination for investment opportunities.
The statement highlighted that a significant aspect of the meeting was the signing of the declaration of endorsement by all critical stakeholders to the projects, including the ICRC and the Cross River State Government, as well as the Nigerian Ports Authority and the Nigerian Shippers Council.
